UNITED INDIAN INSURANCE
I am running the race, going to win again: Biden at Wisconsin rally
US President Joe Biden reaffirmed his candidacy for the upcoming November 5 election, addressing doubts following his recent debate performance. In a Wisconsin rally, Biden emphasized his achievements, including job creation and healthcare improvements, while dismissing concerns about his age. He expressed determination to defeat Donald Trump again, calling for unity and support. Indian-American community leader Ajay Jain Bhutoria endorsed Biden and Vice President Kamala Harris, praising their commitment to democracy and resilience in challenging times.
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
CXO-level shifts rearrange top deck at Indian startups
The world of startups witnessed a series of top-level movements in the first half of 2024, including Naveen Tahilyani taking the helm as CEO of Tata Digital and the resignation of Surinder Chawla, managing director and chief executive officer of Paytm Payments Bank.
Niva Bupa files for Rs 3,000-cr IPO
Niva Bupa Health Insurance files a ₹3,000 crore IPO, aiming to enhance solvency ratio and operating expenses. British United Provident Fund Bupa is an existing shareholder. TrueNorth-managed Fettle Tone LLP and Bupa Group play key roles in the IPO process.
Health insurer Niva Bupa files for Rs 3,000 crore IPO
The company, majority owned by British United Provident Fund (Bupa), said it will issue fresh shares worth up to eight billion rupees as part of the offering.It aims to use the proceeds from that sale to strengthen its balance sheet and for operating expenses.
Future Enterprises' creditors scrap simultaneous vote for its assets
Creditors had divided FEL's assets into three clusters - insurance, textile businesses, and other residual stakes including its investments in a manufacturing unit each at Tarapur-Palghar in Maharashtra and Mahadevapura-Bengaluru in Karnataka. Central Bank had emerged the highest bidder for the insurance business, while metals company Orissa Metaliks had pipped Mumbai-based financial services firm Uniworth Finlease with a ₹75 crore offer for the manufacturing units.
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Only 3% of India’s 62 million business owners have SME insurance: ICICI Lombard’s Anand Singhi
Our focus on end-to-end risk management for MSMEs through various tailored digital solutions makes us different, says Anand Singhi, Chief of Retail and Government Business at ICICI Lombard.
Quant Mutual Fund added 27 stocks to its portfolio in May. Do you own any?
Quant Mutual Fund is under Sebi inquiry for suspected front-running, leading to search and seizure operations in Mumbai and Hyderabad.
Zurich Insurance set to raise India headcount by 40% in next three years
“India will soon be the world’s third largest economy, the largest working age population, the biggest middle class amongst emerging markets, the strongest route of growth in the G20 for insurance,” Tulsi Naidu, chief executive officer for Asia Pacific, said in an interview.
Insurer Niva Bupa plans $360 million IPO: Report
British United Provident Association (Bupa), which holds a 63% stake in the Indian venture, plans to sell a small stake worth up to $38 million and Indian private equity firm True North is planning a stake sale worth up to $225 million, the document detailing the IPO plans showed.
Headwinds of high FPI exposure, but good for long term: 6 stocks the financial services sector with an upside potential of up to 25 %
One of the most intriguing aspects of presenting the return performance of stocks, or any asset class for that matter, is how a slight adjustment in the calculation date can dramatically alter the perception, making the glass appear either half full or half empty. This phenomenon is particularly evident in the case of financial service stocks. Recently, these stocks have often been portrayed as underperformers. However, this overlooks the fact that over the long term, they have provided substantial returns and generated significant wealth. The short-term underperformance of these stocks can be attributed to their heavy ownership by Foreign Portfolio Investors (FPI). As FPIs have been net sellers in Indian equities, financial service stocks have faced selling pressure. Nevertheless, the relative decline in stock prices is considerably less severe than in previous instances of similar selling activity. Given the robust fundamentals of these stocks compared to a few years ago, it is prudent to view them from a long-term investment perspective.
Up to Rs 10 lakh relief in train accident: How a 45 paisa IRCTC travel insurance can be a huge help for your family in case of death or disability
IRCTC travel insurance: Do you know that IRCTC offers an optional travel insurance policy at just 45 paisa premium per passenger. This policy offers coverage up to Rs 10 lakh in cases of death and permanent disability. God forbid if you perish in a train accident, atleast your family will get the required financial assistance.
Indian deposit insurer way behind global peers in processing reimbursements: RBI Deputy Governor
RBI deputy governor Michael Patra highlighted that India's deposit insurer DICGC lagged behind international counterparts in processing reimbursements, taking over a month compared to IADI's target of seven days. Challenges such as data quality, identification issues, and lack of alternative bank accounts hinder quick payouts. India mandates deposit insurance for all banks, covering 1,997 institutions, with a coverage limit of Rs 5 lakh per depositor. Patra emphasised the need for improved risk management and crisis frameworks in light of evolving challenges, such as climate change impacting financial systems.
Tesla vs Tata Motors: Elon Musk's $56 billion salary more than TaMo revenue
Musk's compensation package not only outstrips TaMo but also surpasses the total revenues of other prominent Indian entities, including HPCL, SBI, Rajesh Exports, and TCS
Shares of Hyundai Motor jump as it files for India unit IPO worth $3 billion
Shares of Hyundai Motor, South Korea's leading carmaker, jumped here on Monday as it confirmed that its India unit has filed for an initial public offering (IPO) to raise around $3 billion (Rs 25,000 crore).
Q4 results: Stable costs boost India Inc. profits
Steady costs and firm domestic demand supported corporate performance in the March quarter.
Sanjiv Bhasin picks top stocks that may outperform in near term
We think the market has retraced very sharply, more sharply than we thought. This is not the time to be too brave, be watchful of what stocks you buy. ABFRL was a darling stock, in the last three days it is up 30%, so has been AB Capital and Vodafone. We think that group is being re-rated. Look for any opportunities to buy.
What’s fueling the shift in Indian investor behaviour?
India added $1 trillion to the stock market in less than six months, reaching a $5 trillion market cap. Retail investors, with a surge in Demat accounts, play a key role in enhancing market stability and resilience.
Tata AIA Life launches Midcap Momentum Index Fund
Tata AIA Life Insurance launches Midcap Momentum Index Fund to capitalize on India's midcap sector growth potential, offering investors a chance to benefit from high-growth midcap stocks through ULIP and ILP solutions.
How NRIs can extract maximum value from voluntary deductible in their health insurance
Indian software engineer Ravi moved to the US for a career opportunity but overlooked his health insurance policy in India. After realizing the importance of coverage during visits, he reinstated his Indian policy for financial security and peace of mind.
The man who escaped the scam rings of Cambodia
Thousands of workers are trafficked to Southeast Asia to commit cyber fraud on their fellow citizens over social media. Ex-serviceman Botcha Sankhar, who was forced to work in the scam compounds of Cambodia for six months, unravels the modus operandi of this new and terrifying form of crime and forced labour
Railways stocks: Stay bullish, just hedge a bit to avoid mistake of selling in haste: 7 outperforming railways stocks across different segments
Even the best of the rational brain can make wrong decisions when there is too much noise which gets created due to a narrative. Now for the last few days a narrative has been created that due to polls, FPI are selling. These kinds of narratives tend to hit the sector and stocks which are sitting with big gains and are dependent on government policy push. Railways was among the last sectors to get re-rated due to the policy focus. Whether it was companies which are financing the expansion of railways or private sector companies which are making coaches, all of them have done extremely well. Given the fact the railways is likely to be the focus area, the long term story remains intact. Only thing is that one might end up selling the long term winner early because of the narrative. Rather than getting jittery, it would be better to create a hedge and stay with the stocks where there has been a big change in the fundamental ways things operate and the sector has a long runway.
IPL washout spurs potential insurance claims of Rs 50-60 crore
The rain-induced washout of the Gujarat Titans versus Kolkata Knight Riders match on Monday has sparked concerns about revenue losses, leading sponsors and franchise owners to contemplate submitting claims to insurance providers. For this year's Indian Premier League (IPL), insurance coverage totaling Rs. 10,000 crore was procured from insurers such as New India Assurance, National Insurance Company, and United Insurance.
Government gains PSU muscle as stocks climb peaks
The value had touched a high of 22% of total market capitalisation of listed firms in June 2009, dropping to a low of 5.1% in September 2020 before doubling since then, according to data from primeinfobase.com. Re-ratings amid large valuation discounts, high dividend yields, record cash flows and news of possible privatisation triggered a sharp rally in public sector companies over the last three years.
NDA is already near 200 seats, on track to get past 400: Amit Shah
Union Home Minister Amit Shah is confident that the BJP will achieve its 400-paar figure this election and says the party would win up to 200 of the 283 seats in the first three phases alone. In an interview with Rahul Tripathi and Pranab Dhal Samanta, he says that elections will be held in Jammu & Kashmir ‘according to court dates’ and opposes any reservation based on religion. Excerpts:
Will short-term headwinds impact long-term potential? 6 stocks from hospital sector with upside potential of up to 30%
After outperforming the market, stocks from the healthcare sector or what is more commonly called hospital sector have gone into consolidation mode. The consolidation has been prompted by the fact that voices have been raised about differential pricing in the services of the hospitals. The matter has reached the Supreme Court and will be heard. Given the fact that while medicine is a science but in real life as practice it has an element of art in it. For example, a hospital who has a renowned surgeon from any branch, be it cardio, neuro on its roll may charge up more for the same surgery as compared to others. While the moral debate is on one side, there is another side to the story. In a country like India, the healthcare infrastructure needs vast expansion and upgradation. To some extent the street is ruthless and does not have much moral obligation.
Health an orphan, Ayushman Bharat insurance scheme poorly structured: IMA chief Dr R V Asokan
The Indian Medical Association's chief, Dr. R V Asokan, criticizes the lack of focus on health post-Covid, describing it as an "orphan" issue. He highlights the inadequacies of the Ayushman Bharat scheme, citing poor structure and funding. Asokan advocates for increased government investment in public health infrastructure and human resources, emphasizing the need for a basic healthcare package for all citizens.
Russia reinsurer backs firms to get India marine insurance permit: Sources
A state-owned reinsurer in Russia has provided financial support to three Russian insurance companies. This backing enables them to obtain Indian approval to offer marine insurance coverage to tankers. The move comes as Moscow aims to facilitate trade with India amidst Western sanctions.
Senior US treasury officials to urge India to maintain implementation of Russian oil price cap
Two US officials are coming to India to urge India to maintain the implementation of oil price cap. In 2023, Russia had emerged as India's top oil supplier. India has strong economic and defence ties with Russia and has refrained from criticising Moscow over its war with Ukraine.
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